California Assembly Bill 278 commonly referred to as the “Homeowner Bill of Rights” became effective on January 1, 2013. Mortgage servicers could incur penalties up to $7,500 per mortgage if they don’t have a process in place to review documentation or have the “competent and reliable evidence” to prove it. Myron Finley, Chief Legal Officer at Nationwide Title Clearing, recently wrote a white paper explaining the new law and how to prepare for it.
Nationwide Title Clearing Blog
Nationwide Title Clearing received notice of statewide changes for recording fees in North Carolina effective October 1st, 2011.
The state of Maine has enacted LD-1012 effective August 25, 2011. The new law requires a mortgagee to provide the original recorded release of mortgage to the borrower within 30 days of receiving the lien release from the registry of deeds.
Nationwide Title Clearing received a notice of an increased surcharge fee for all Maryland counties effective July 1st, 2011. The notice states that per Maryland HB-72, the Budget Reconciliation and Financing Act of 2011, effective July 1, 2011, the surcharge for each type of instrument recorded among the land records and the financing statement records executed on or after July 1, 2011, will be $40.00.
Nationwide Title Clearing received notice of a New Mexico statewide increase in recording fees. The 2011 New Mexico Legislature passed Senate Bill 369 titled An Act Relating to Public Records. The Governor signed the bill into law on April 7, 2011. The new fees became effective July 1, 2011. In summary the new law sets fees as follows: